NEW YORK (Reuters) – The New York Stock Exchange ended sharply lower on Friday, weighed down by large stocks in the technology sector, while the timing of the Federal Reserve’s next rate cuts continues to raise questions.
Operators are betting a little less on a reduction in rates from June after the higher-than-expected inflation figures published this week. The Fed is expected to keep rates unchanged at its meeting next week.
The session was also marked by a consolidation of indices which are at record levels and volatility linked to the expiry of options and futures contracts.
The Dow Jones index fell 0.49%, or 190.89 points, to 38,714.77 points.
The broader S&P-500 lost 33.06 points or 0.64%, to 5,117.42 points.
The Nasdaq Composite fell 155.36 points (-0.96%) to 15,973.17 points.
Over the week, the Dow Jones declined by 0.02%, the S&P lost 0.13% and the Nasdaq fell by 0.7%.
Adobe’s stock plunged more than 13% after second-quarter revenue guidance fell short of expectations.
(Jean-Stéphane Brosse for the )
Copyright © 2024 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
